beneficiary Hear it!

beneficiary definition - finance
The institution or person who receives cash or an investment; typi-cally used to refer to people who inherit money or property through a will, or people who receive the proceeds from a life insurance policy, annuity, or trust.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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